Maxim Group Thinks TrovaGene’s Stock is Going to Recover

Maxim Group analyst Jason McCarthy maintained a Buy rating on TrovaGene (TROVResearch Report) yesterday and set a price target of $8. The company’s shares closed yesterday at $2.72, close to its 52-week low of $2.54.

McCarthy said:

“TrovaGene held a business update call on 6/7 to highlight the progress and upcoming events for development of onvansertib in AML, prostate cancer (mCRPC), and metastatic colorectal cancer (mCRC) as well as the recent collaboration with Nektar Therapeutics (NKTR – NR); see note from 5/23 (LINK).”

According to TipRanks.com, McCarthy ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -20.3% and a 21.3% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.

Currently, the analyst consensus on TrovaGene is a Moderate Buy with an average price target of $15.50.

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Based on TrovaGene’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $3.9 million. In comparison, last year the company had a GAAP net loss of $4.79 million.

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Trovagene, Inc. is a clinical-stage, precision medicine oncology therapeutics company. Its focuses on developing PCM-075, is a Polo-like Kinase 1 (PLK1) selective adenosine triphosphate (ATP) competitive inhibitor.